In a significant milestone for Blur, upstart NFT marketplace has surpassed OpenSea in daily NFT trading volume. Blur’s daily trading volume reached 6,602 ETH on Wednesday, February 15th, surpassing OpenSea’s 5,649 ETH for the first time ever. Moreover, Ethereum gas fees have also gone up due to the increased business activity. Reportedly, Blur has now surpassed UniSwap and Seaport to become a “gas guzzler” on Ethereum.
Here’s everything you need to know about Blur Bypass OpenSea:
Blur beats OpenSea: what happened?
A recent data analysis platform report Nansen It found that Blur outperformed OpenSea in daily trading volume for the first time on Wednesday. Interestingly, another analytics platform, Dune, reported a much larger difference in trading volumes between the two. according to Dune dashboard by sealaunch. xyzBlur and OpenSea had daily trading volumes of 30,410 ETH and 7,232 ETH, respectively.
At the time of writing, while trading has dropped significantly, Blur continues to dominate the market with 20,428 ETH. Meanwhile, OpenSea is at just 4,369 ETH.
It said , Blur is currently worth $1 billion. The market’s daily trading volume grew nearly 4 times after it released its native token, cementing it as a strong competitor to OpenSea. Furthermore, last week Blur released a blog post asking its users to block sales of their NFTs on OpenSea. The move was a reaction to OpenSea’s earlier decision to ban NFT marketplaces that offered optional royalties.
Meanwhile, Blur has overtaken Uniswap and Seaport to be the biggest consumers of Ethereum gas (the accounts that guzzle the most gas). This is normal considering how NFT trading has skyrocketed in the market. And the more active the network, the higher its transaction fees.
Why is Blur popular?
First, Blur is funded by some of the folks in the Web3 space, including Paradigm, Coinbase Ventures, and E-GIRL Capital. Then, it offers users some attractive perks like no trading fees. On February 15th, it dropped its original token, BLUR, rewarding its most active users with a token airdrop. Needless to say, the airdrops were a huge success, sending Blur volumes skyrocketing.
All in all, Blur Air Drops have dropped 360 million BLUR tokens. Currently, it boasts an all-time trading volume of $1.59 billion. According to DappRadar data, the market also surpassed OpenSea in 7-day ($435.24 million) and 30-day ($711.83 million) volume.
OpenSea vs Blur: The Hostility Explained
For a long time, OpenSea was the largest market for NFTs in the space. Then came Blur, an optional marketplace for royalty, with many attractive features. Amid the creator ownership controversy that picked up steam last year, OpenSea took a bold step: to ban NFT marketplaces that offer optional royalties. To be clear, to get full ownership rights over OpenSea, creators have to stop selling NFTs on optional marketplaces like Blur.
However, with the new policy update, Blur hit back at OpenSea. The new policy requires its creators to block their sales on OpenSea for royalties.
Now, Blur seems to be taking giant leaps and bounds. It remains to be seen if it can maintain the top position and topple OpenSea in trading volume all the time.